According to the NA-assigned targets, Vietnam’s GDP growth rate in 2020 will be 6.8% while inflation will be kept below 4%. However, the unexpected outbreak of COVID-19 in more than 200 countries around the world has made this goal a major challenge which, as assessed by the Government, is difficult to be achieved. Given that fact, the proposal to adjust the growth targets is necessary and consistent with objective reality, looking directly at the socio-economic situation and forecasting the international and domestic situation in the near future. Under the Government’s updated scenario, the country’s GDP will grow by about 4.5% in 2020. The Government has also set a higher growth target of 5.4% in the event of a favourable global situation, with the disease being put under control and the global market recovering. Meanwhile, the consumer price index (CPI) for the whole year will rise by 4% on average; total state budget revenue will see a reduction of VND163 trillion … [Read more...] about BUSINESS NEWS HEADLINES MAY 30

Furthermore, the risk from sour loans are substantial. Although lenders are much stronger now since they have built up capital under acute regulatory scrutiny such as Basel II, many are still wondering if the buffers will be big enough. Specifically, some lenders, such as Agribank, Kien Long Bank, and Viet Capital Bank, are still nowhere to be found in the Basel II race. … [Read more...] about Consumers risk higher defaults amid lending sector fluctuation